GigOptix closes public offering of common stock, raising $12.6m

On 24 December, GigOptix Inc of San Jose, CA, USA (a fabless supplier of analog semiconductor and optical communications components for fiber-optic and wireless networks) closed its public offering of newly issued shares of common stock (announced on 18 December).

Offered at a price to the public of $1.42 per share, the 9,573,750 of shares sold in the offering includes the underwriter’s full exercise on 24 December of their over-allotment option of 1,248,750 shares of common stock.

GigOptix expects to use the net proceeds of about $12.6m (after underwriting discounts and commissions) for working capital and other general corporate purposes. The firm may also use a portion of the net proceeds for licensing or acquiring intellectual property or technologies to incorporate in its products, capital expenditures, to fund possible investments in and acquisitions of complementary businesses, partnerships, and minority investments.

Roth Capital Partners acted as sole book-running manager for the offering. Craig-Hallum Capital Group acted as co-lead manager for the offering.

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